200911 Lecture Notes - Lecture 3: Customer Retention, Market Segmentation

• School: UWS
• Department: University of Western Sydney
• Course: 200911
• Professor: anonymous

Document Summary

There are ways to target a specific market for your product or service. Demographic segmentation is one of the ways to target a specific group of consumers. Demographic segmentation is market segmentation according to age, race, religion, gender, family size, ethnicity, income, and education. Demographics can be segmented into several markets to help an organization target its consumers more accurately. With this type of segmentation, an organization can categorize the needs of consumers. One of the main advantages of demographic segmentation is that the information you need is readily available for you. You can pull census data to determine who, where, and how you want to market your product. For example, automobile industries can market their cars to different age groups, income levels, and genders. Another way that businesses, such as automobile industries, don"t miss out on the growing market is by providing employees who are bilingual to work with their customers.